Developer Envisions 'Tax Haven' On Island in Detroit River

A Real estate developer wants to put together an investor group to buy the 982-acre park in the middle of the Detroit River -- polish it up with $20 billion in construction projects on the island which would lead to another $20 billion in construction projects off the island and tens of thousands of temporary construction jobs and tens of thousands of permanent jobs.

The groups plan also calls for the federal government to approve establishing Belle Isle as an independent commonwealth that would serve as a tax haven for more than 35,000 of the world's wealthy, and for corporations from around the world eager to buy a piece of what Lockwood envisions as the Monaco or Singapore of the Western Hemisphere.